Portfolio Update

European Assets Trust NV
13 December 2006

European Assets Trust NV

ALL DATA AS AT 30th November 2006


THIS DATA WILL BE AVAILABLE ON THE F&C ASSET MANAGEMENT WEB-SITE, http://
www.fandc.com/ FROM APPROXIMATELY 18th December 2006


Top ten equity holdings

Andritz   3.8%
Nexity   3.7%
Topdanmark  3.6%
Kingspan   3.6%
Logitech 3.5%
C&C Group  3.2%
Anglo Irish Bank  3.2%
Trevi Finanziaria  3.2%
Indra Sistemas  3.0%
Piaggio & C  3.0%
Total  33.8%


Country allocation

France    12.8%
Ireland   16.4%
Spain  8.9%
Italy  12.7%
Germany  4.9%
Austria  6.3%
Norway  6.8%
Switzerland  5.9%
Denmark  6.0%
Other  19.3%

Total  100.0%




Actual gearing:  103.5
Potential gearing:  108.7














                      This information is provided by RNS
            The company news service from the London Stock Exchange